Earnings Call Transcripts
Access detailed transcripts and key takeaways from company earnings calls
All Earnings Calls
American Airlines Group Q4 2025 Earnings Call - Hits Debt Target Early, Betting on Premium Growth Despite Record Winter Storm Disruption
American closed 2025 with weaker-than-guided adjusted EPS, but a balance sheet story that managers are proud of and a strategy that is heavy on premium product and loyalty. Q4 adjusted EPS was $0.16, ...
- Q4 2025 adjusted EPS was $0.16, full-year adjusted EPS was $0.36, both below guidance largely due to the government shutdown impact.
- Management attributes approximately $325 million of lost revenue in Q4 to the government shutdown, concentrated at DCA and government-heavy routes.
- Winter Storm Fern produced the largest weather-related operational disruption in company history, with more than 9,000 cancellations and at least two more days of elevated cancellations expected.
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UPS Fourth Quarter 2025 Earnings Call - Amazon Glide Down Forces Near-Term Margin Pressure, Sets Up Leaner Network
UPS closed 2025 with stronger-than-expected execution but with a clear message: the company is trading short-term pain for a structurally leaner, higher-quality network. Q4 results beat on revenue qua...
- Q4 consolidated revenue $24.5 billion, operating profit $2.9 billion, consolidated operating margin 11.8%.
- Full year 2025 revenue $88.7 billion, operating profit $8.7 billion, operating margin 9.8%, and cash from operations $8.5 billion.
- GAAP Q4 charges totaled $238 million ($0.28 per diluted share), including a $137 million after-tax write-off for the MD-11 fleet and $101 million of transformation charges.
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Roper Technologies Q4 2025 Earnings Call - Portfolio built aggressively with M&A and AI, guidance conservative amid Deltek, DAT and Neptune headwinds
Roper closed 2025 with double digit top line and EBITDA growth, a meaningful M&A sprint, and an explicit contingency plan. Revenue was $7.9 billion for the year, up 12%, EBITDA rose 11%, and free cash...
- 2025 headline performance: revenue +12%, EBITDA +11%, free cash flow +8%, bookings for enterprise software grew low double digits for the year.
- Q4 specifics: revenue $2.06 billion, up 10% year over year, driven by 5% from acquisitions and 4% organic growth; DEPS $5.21 beat guidance.
- Margins and cash flow: Q4 core EBITDA margin expanded 60 basis points, representing a 54% incremental margin; full year core margin improved 30 basis points with 47% incremental margin.
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AGNC Investment Corp. Fourth Quarter 2025 Earnings Call - Strong 2025 returns driven by tighter Agency MBS spreads, Fed and GSE support
AGNC closed 2025 with a standout performance, reporting an 11.6% economic return in Q4 and a 22.7% economic return for the year, while shareholders enjoyed a 34.8% total stock return with dividends re...
- Q4 economic return was 11.6%, driven by $0.36 of dividends declared and a $0.60 increase in tangible net book value per common share.
- Full-year 2025 economic return was 22.7%, with monthly dividends totaling $1.44 per common share and a $0.47 increase in tangible net book value per share for the year.
- AGNC’s total stock return in 2025 was 34.8% with dividends reinvested, nearly double the S&P 500; since the third quarter of 2023 the firm generated a 50% economic return across nine quarters.
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Synchrony Financial Fourth Quarter 2025 Earnings Call - Mid-single-digit loan growth guided as Walmart and Pay Later scale while credit discipline holds losses near target
Synchrony closed 2025 with a clean quarter and a clear playbook. Q4 net earnings were $751 million, or $2.04 per share, helped by rising yields and record purchase volume of $49 billion, while net int...
- Q4 net earnings $751 million, EPS $2.04, including a $0.14 per share restructuring charge tied to an early retirement program.
- Management reported record Q4 purchase volume of $49 billion, up 3% year over year, with digital purchase volume up 6% driven by higher spend per account.
- Synchrony guided to mid-single-digit ending receivables growth for 2026, expecting growth to accelerate into the back half of the year as new programs scale.
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Kimberly-Clark 4Q2025 Earnings Call - Powering Care drives volume-plus-mix growth, Kenvue close expected in H2 2026
Kimberly-Clark says its Powering Care program is delivering measurable commercial traction, posting an eighth consecutive quarter of volume-plus-mix growth even as the broader category showed choppier...
- Powering Care is claimed to be driving sustained momentum, with Kimberly-Clark reporting an eighth consecutive quarter of volume-plus-mix growth in Q4 2025.
- Enterprise Q4 volume-plus-mix was up 1.7%, and on a two-year stack basis Q4 volume-plus-mix rose about 3.6%.
- North America showed resilience: full-year North America two-year stack volume-plus-mix was up roughly 4.1%, though price realization in NA decelerated in 2025.
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Brown & Brown, Inc. Q4 2025 Earnings Call - Accession lifts scale while denting near-term margins; $23M in client revenue follows 275 departures to a startup
Brown & Brown closed 2025 with strong headline growth and cash generation, but the story is two-sided. Total revenue was $1.607 billion in Q4, up 35.7% year over year, and full-year revenue reached $5...
- Q4 total revenue $1.607 billion, up 35.7% year over year; full-year 2025 revenue $5.9 billion, up 23%
- Q4 adjusted EBITDAC margin 32.9%, essentially flat year over year; adjusted EPS $0.93, up 8.1%
- Full-year adjusted EBITDAC margin ~35.9%, up about 70 basis points; full-year adjusted EPS $4.26, up 10.9%
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UnitedHealth Group Fourth Quarter and Full Year 2025 Earnings Call - Execution reset, Optum restructuring, and membership pruning set stage for 2026 EPS recovery
UnitedHealth closed 2025 delivering adjusted EPS of $16.35, but the quarter carried a $1.6 billion net of tax, largely noncash charge tied to Optum actions. Management is pushing a sharp operational r...
- Adjusted EPS for full-year 2025 came in at $16.35, slightly ahead of expectations, but results exclude a $1.6 billion net of tax, largely noncash charge (about $1.78 per share).
- UnitedHealth guided 2026 adjusted EPS of greater than $17.75, implying at least 8.6% growth versus 2025, with net earnings at least $17.10 per share and revenues of approximately $440 billion.
- Management expects operational cadence in 2026 to be front loaded, with slightly under two thirds of full-year earnings in H1, influenced by Part D timing and business mix.
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W. R. Berkley Corporation Fourth Quarter and Full Year 2025 Earnings Call - Record 2025 results, underwriting and investment strength, but auto liability and property reinsurance competitiveness are clear headwinds
Berkley closed 2025 with record earnings, driven by strong underwriting, higher net investment income, and disciplined expense control. The company reported $450 million in quarterly operating earning...
- Record quarterly operating earnings of $450 million, $1.13 per share, and a 21.4% return on beginning of year equity for Q4 2025.
- Record quarterly pre-tax underwriting income of $338 million, up 14.9% year-over-year, driven by rate improvement, lower catastrophe losses, and expense discipline.
- Full-year results included gross premiums written of $15.1 billion and net premiums written of $12.7 billion, underwriting income of $1.2 billion, and net income of $1.8 billion.
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Sanmina Q1 Fiscal 2026 Earnings Call - Strong start led by ZT Systems, AI/cloud demand and clean cash position
Sanmina opened fiscal 2026 with a clean, execution-driven quarter: $3.19 billion revenue, non-GAAP operating margin at 6.0%, and non-GAAP EPS of $2.38. The ZT Systems acquisition is already accretive,...
- Revenue of $3.19 billion in Q1 fiscal 2026, up 59% year-over-year, coming in near the high end of guidance.
- Non-GAAP operating margin was 6.0% and non-GAAP diluted EPS was $2.38, both beating outlook and marking the second straight quarter at roughly a 6% operating margin.
- ZT Systems acquisition materially contributed to growth, is immediately EPS accretive, and management says integration is on track.
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